Clients have the flexibility to opt for either partial or full redemptions from their account. For partial redemptions, it’s important to note that the remaining balance post-withdrawal must comply with SEBI regulations, which currently mandate a minimum of ₹50 lakhs. The process of redemption can be initiated by sending an email to us from your registered email address.
For a partial redemption, if your account holds sufficient cash, the transfer is usually completed within 1 working day. Should equities need to be sold, the timeline extends to 2-5 working days.
In the case of a full redemption, we will liquidate the entire portfolio, and the majority of the funds will be transferred to your personal account, typically within 3-7 working days. A certain amount is reserved to cover any pending charges and fees. You will be required to sign the closure forms, and after a period of 30-45 days, once all charges have been fully reconciled and settled, any remaining funds will be transferred to your account. Finally, we will handle the submission of account closure documents for bank, demat, and trading accounts (as applicable) to the relevant institutions, and send you a closure report.